Ares Management announced the final closing of Japan DC Partners I LP, marking Ares’ first vehicle dedicated to data center investment and development. With approximately $2.4 billion (¥350 billion) in total equity commitments, the fund positions Ares as one of the largest data center investors in Japan, providing significant capital to meet the rapidly growing demand from cloud and artificial intelligence applications.
JDC I will be investing in the development of three data center campuses in Greater Tokyo, one of the world’s largest data center hubs, that are expected to deliver nearly 240MW of IT load collectively. These development assets will incorporate strong sustainability standards, including renewable-powered energy sourcing and cooling systems aligned with leading water efficiency protocols.
The fund’s campuses will be developed and operated by Ada Infrastructure, a global data center platform acquired by Ares as part of the GCP International transaction and now vertically integrated into Ares. Supported by a team of over 70 professionals worldwide, Ada offers in-depth expertise in executing complex data center projects.
Ares anticipates additional investment opportunities in the Japanese data center sector, including the execution of its secured pipeline, as well as synergies between its broader digital infrastructure and climate infrastructure capabilities to support long-term development. Furthermore, Ares believes that its established local capabilities in Japan, including extensive land sourcing activities and relationships with key business partners and community stakeholders through its leading logistics real estate business, firmly position the platform to continue expanding its data center footprint.
As one of the institutional investors in the fund, Canada Pension Plan Investment Board has made an equity commitment of about $1.3 billion (¥193 billion). And CPP Investments was joined by other large institutional investors, including GLP, a leading Singapore-based global investor focused on the new economy. GLP was the largest shareholder in GCP International before Ares acquired GCP International on March 1, 2025, and continues to own digital infrastructure assets across major international markets, including investments managed by Ares.
KEY QUOTES:
“This achievement underscores the leading investment and development capabilities that the combined Ares and GCP International platform brings to Japan’s new economy sectors, and we appreciate the meaningful support from the Fund’s investors, including CPP Investments. With the increasing adoption of AI and cloud computing technologies positioning Japan as a key market in the global data center ecosystem, we believe this capital will enable Ares to address supply constraints. As we work to introduce this next wave of critical assets, we are confident that the team’s longstanding relationships with key data center customers and track record as reliable stewards of these assets will position us well as we seek to generate compelling risk-adjusted returns.”
Blair Jacobson, Co-President of Ares
“The demand for data centers in Asia Pacific continues to grow due to the increasing need for data processing and consumption. As one of the largest data center markets in Asia, Japan acts as a key connection point between Asia and North America to facilitate efficient data transfer. The commitment to the Fund will further advance our global data center strategy and deliver attractive risk-adjusted returns for CPP contributors and beneficiaries.”
Max Biagosch, Senior Managing Director & Global Head of Real Assets for CPP Investments
